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COUNTRY INSIGHTS

Following the right path, albeit too slowly
ECUADOR · Report · 18 Sep 2018

Ecuador is one of the countries facing a humanitarian crisis of large proportions brought on by the massive exodus of millions of Venezuelans escaping from heart-breaking living conditions. Last week, President Moreno, represented by Minister of Foreign Affairs Jose Valencia, led an international...

Fifteen-month labor
ECUADOR · Report · 10 Aug 2018

Finally, after 15 months, Ecuador has an economic bill that, albeit with limitations and inconsistencies, approaches a different economic model from that established by President Correa. Emerging from the Correato has proven more difficult than expected for the new government, so it seeks through...

Full Employment Declines in Q2
ECUADOR · In Brief · 18 Jul 2018

President Moreno will be sending his veto to the recently approved economic law today. In the meanwhile, INEC published the latest employment information that shows a decline in the quality and number of jobs between Q2 2017 and Q2 2018.In fact, 161,689 full-time jobs (adequate employment) were l...

Thumbs up from the USA, thumbs down from Venezuela and Bolivia
ECUADOR · Forecast · 13 Jul 2018

The Ecuadorian economy decreased 0.7% q/q in Q1 2018, but still grew 1.9% y/y (the lowest positive change since Q1 2016). The slowdown in recovery that started in Q3 2016 can be linked to a sharp decrease in public expenditure, which in Q1 2018 fell $2.63b q/q and $348m y/y. There was also a cont...

Power was absolute, but not everlasting
ECUADOR · Report · 15 Jun 2018

Political events have evolved with amazing speed in Ecuador since May 2017, when President Moreno took office. The new president has managed to dismantle the almighty power structure of former President Correa, who finished as the “head of all powers” (as he referred to himself), dominating execu...

Moreno aims at recovering his public image
ECUADOR · Report · 24 May 2018

An encouraging and positive President Moreno gave his first report to the Nation as is customary after the first year in office. The change in style from his predecessor was evident and consistent in every section of his speech and brought hope on the economic perspectives. However, this is a ...

A turn of 180 degrees
ECUADOR · Report · 17 May 2018 · 2 responses

Richard Martinez, a young economist who has been linked to the productive sector through the Chamber of Industries and the Ecuadorian Productive Committee, is replacing Maria Elsa Viteri, who was in office only for two months. Viteri had presented the economic program for this and the next three ...

New Minister of Finance
ECUADOR · In Brief · 15 May 2018

Maria Elsa Viteri is the first casualty from the intentional cabinet crisis provoked by president Moreno who last week requested the resignation from all ministers and other high government officers. This is a customary action taken by presidents usually in December of every year, but in this cas...

Ecuador Conference Call: Positive momentum – with challenges
ECUADOR · Report · 27 Apr 2018

Can Ecuador's positive 2017 growth pace be sustained in 2018? Will the new economic plan produce the necessary fiscal adjustment? Can the country defend itself against a growing terrorist threat?

Sudden attacks rattle an inexperienced government
ECUADOR · Forecast · 20 Apr 2018 · 3 responses

For the last 40 years, Ecuador is fortunate to have been virtually untouched by the terrorism plaguing neighbors Colombia and Peru. Now that’s abruptly changed: over the past month, four soldiers were killed, three journalists were kidnapped and executed, and a young tourist couple was kidnapped,...

After sticks, stones
ECUADOR · Report · 22 Mar 2018

Ecuadorians have been shocked by shameful political scandals around abuses of political power and corruption that have so far put a Vice President in jail, have demoted the president of the National Assembly and have the Attorney General waiting for an impeachment. In addition, for the first...

Ecuadorians overwhelmed by political scandals
ECUADOR · In Brief · 09 Mar 2018

A new political scandal emerged last week when a mafia-type phone conversation between the President of the Assembly, Jose Serrano and the former Comptroller General Carlos Polit, now a fugitive from justice in Miami, was made public by the Attorney General, Carlos Vaca. In this conversation, Ser...

Too much whining is not enough
ECUADOR · Report · 01 Mar 2018 · 1 response

Nine months have elapsed from the day Lenin Moreno took office and told Ecuadorians that “the table has not been served” as former President Correa boastfully declared. Moreno´s change of ways raised expectations for a change in the economic model as well, but on that side, to date there is nothi...

Is today the first day of Lenin´s administration?
ECUADOR · In Brief · 05 Feb 2018

For many Ecuadorians today is the first day of Lenin Moreno´s administration even though eight months have already elapsed, albeit without establishing clear paths for top national priorities. In fact, the national vote favored the "seven times yes" promoted by the government ‒ including the two ...

Encouraging news from the oil sector
ECUADOR · In Brief · 02 Feb 2018

An increase in price for the Ecuadorian crude oil basket to around $60/b is not the only good news coming from the sector. Minister Carlos Perez announced the Republic will continue to develop the Refinery from the Pacific, now the Refinery from Manabi, but now under more reasonable and attractiv...

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